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Topic: ICD 10 bounce? (Read 3742 times)

I was wondering if any of you noticed a more receptive attitude on the part of medical professionals regarding hiring independent medical billers as ICD 10 approaches. I have. Yes, marketing is still a grind, sometimes I feel my marketing efforts are like trying to climb the empire state building on my hands and knees as I completed my 2500th cold call for the year, and look at the large stack of 3x5 cards in my file box of doctors that are "thinking about it" . I have a feeling the next 3-4 months might just get some of them off the fence. What do you folks think?

What I have seen in the last two months or so on various other forums is a HUGE increase in remote coding companies wanting to hire CPC's who are ICD-10 certified. As an example, whereas in a given month maybe one company would post that they are hiring, now it is ten companies hiring. This tells me that either they are anticipating an influx of new business, or they already have it happening, and need people.

As for billing companies/independent billers, I haven't seen anybody looking to hire them on any forums. That said, a billing company/biller who completely understands ICD-10, and all that goes with it will have a leg up on those who don't. By that I mean being able to convert superbills, explain documentation requirements, explain A, D, S characters, laterality specifications, do ICD-10 claim testing, etc.

A survey I saw last month for my billing specialty asked the question: "Are you ready for ICD-10?". The answers showed that 42% of respondents said they "hadn't started any preparations" and and additional 28% said "they had started, but didn't know what to do next". Those are REALLY bad percentages. These providers are either banking on another delay to happen(doubtful at this point), or have their heads stuck in the sand, and no one in their practices to pull it out. I have a feeling there are similar issues for other specialties/offices.

Which kind of blows my mind, to be honest....even if these offices/providers don't think ICD-10 will happen on Oct. 1, they should be ready for it by now, regardless. Because I think many are NOT ready, there could be a significant uptick in clients for billers, even if I am not seeing it right this minute in forums. The closer we get, things could change. I think they will, based on what I have seen.

I currently work remotely for a company whom has seen a HUGE spike in the need of remote coders, the company has grown just within the past couple of months due to the need. Not only are they providing remote services but are also doing ICD-9 to 10 conversions then providing provider training.

The responses I have received regarding my experiences with marketing, is that providers are wanting consulting services, audits done and then training as it relates to the ICD-10 topic.

Does anyone have a script that works for them when cold calling? I'm in the process of getting those started.

As much as I loathe getting cold calls at my office(I get about 5 a day), I do know the type of cold call I prefer getting(as opposed to the ones where I want to slam the phone down), and it goes something like this:

"Hello, my name is Jane, from ABC Company. May I please speak with the practice manager?"

"Yes, I am Kristin, the practice manager, how can I help you?"

"Kristin, thank you taking the time to speak with me. Again, my name is Jane, from ABC Company. As you know, ICD-10 is right around the corner. My company offers a variety of services to assist practices with the transition to ICD-10. Is this something your practice might be interested in?"

If the answer is no, thank them again for their time, and hang up. I get calls about ICD-10 almost every day, and I tell them, "No thank you, we are not interested. Our practice is ready for ICD-10". The caller then tries to continue to sell me on their services, and to tell me that we are not ready in some way. (No means no, so just thank me for my time and end the call, thank you kindly)

If the answer is yes, ask if they would like to discuss things now if they have time, or would they prefer you send them the information. If they want it sent, ask which method is best, email, fax, or regular mail. If they do want to discuss it right then, the more succinct you are, the better. Not short with them, but succinct. Maximum info in minimum amount of words. It irritates me when cold callers just ramble on and on, or clearly seem to be reading from a script(argh!), or won't let you get a word in edgewise, they are talking so fast.

Also, I don't know how much experience you have in cold calling in general, but it really helps to know something about who you are cold calling. For instance, my office is podiatry, the doctor is a solo provider, and is a woman. When I get a cold call that refers to the doctor as a man(happens all the time), refers to us as a group practice, or mentions some other specialty, I quickly get rid of the caller. I look at it like if the cold caller couldn't take one minute of their time to research who they are calling, then I can't give them more than thirty seconds of my time.

Conversely, if the cold caller was to say to me(after I have indicated that I am interested in their services): "My understanding is that Dr. Doe is a podiatrist, and she is the only provider in the practice, is that correct?", then I would be impressed by their research, and much more receptive to what they have to offer. This type of research also helps narrow down what types of services the practice may need, so you can more focused in what you discuss with them during the call.

Thank You for the input folks. Just looking a ray of hope. I've made over 9,000 cold call contacts in the last 2 years with office managers and doctors, and all I have to show for it is 3 part time Chiropractor clients, with a total monthly income of $122.50 + 2 former clients whose office managers were were very happy with my services, but were later overruled by the doctors that insisted on doing the billing in house at greater expense, so they could "keep an eye on things" ...(oh yes, and a large army of medical professionals I've contacted that are "thinking about it"). I'm going door to door for the next 2-3 months to see if that will work any better. Since starting my business two years ago, the 2 most important things I've learned is: 1. Medical billing is not overly complicated, and 2. Signing up and keeping clients is only slightly less difficult than pushing a large boulder up to the top of Mt. Everest.

Marketing is definitely the hardest part of this business. If Alice and I didn't do this together we definitely wouldn't have made it. When one of us wanted to quit the other would pick them up and vice versa. You just need that one break! It's just a numbers game and by the numbers you've given below you are certainly due! Hang in there, the only way to go is up.

Thank You for the input folks. Just looking a ray of hope. I've made over 9,000 cold call contacts in the last 2 years with office managers and doctors, and all I have to show for it is 3 part time Chiropractor clients, with a total monthly income of $122.50 + 2 former clients whose office managers were were very happy with my services, but were later overruled by the doctors that insisted on doing the billing in house at greater expense, so they could "keep an eye on things" ...(oh yes, and a large army of medical professionals I've contacted that are "thinking about it"). I'm going door to door for the next 2-3 months to see if that will work any better. Since starting my business two years ago, the 2 most important things I've learned is: 1. Medical billing is not overly complicated, and 2. Signing up and keeping clients is only slightly less difficult than pushing a large boulder up to the top of Mt. Everest.

William....very good information. Thank you. I'm curious since you've made so many calls, what would you say is the most common objection you get when trying to land a client?

The most common objection I've found is "you don't have any experience in my medical field" I respond by sending them a list of references (my satisfied clients) If this does not work, I just move on. If they are serious about hiring someone to do their billing, they'll at least give me a try.

I will tell you what, williamportor...if my practice was looking to hire an outside biller, based on the content of your posts here alone, I would hire you. You are clearly hardworking, dedicated, and intelligent. Your comment about pushing a large boulder up to the top of Mt. Everest, while elucidating how frustrating this business can be, also tells me you have an eloquence about you, that I appreciate. It is the "little" things like that that make all the difference, and I think you will have great success in the future. Don't give up!